Piper Sandler Has Lowered Expectations for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its price target cut by analysts at Piper Sandler from $110.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 63.61% from the company’s previous close.

A number of other analysts have also weighed in on ESTC. Cantor Fitzgerald reduced their target price on Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Citigroup reduced their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research report on Wednesday, January 21st. Jefferies Financial Group cut their price objective on shares of Elastic from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, DA Davidson reduced their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.50.

Elastic Trading Down 15.6%

Shares of ESTC traded down $9.63 during mid-day trading on Friday, reaching $51.95. 4,367,682 shares of the company’s stock traded hands, compared to its average volume of 1,990,781. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The stock’s 50-day moving average is $68.90 and its two-hundred day moving average is $77.96. Elastic has a 12 month low of $49.90 and a 12 month high of $117.49. The stock has a market cap of $5.47 billion, a P/E ratio of -50.33, a P/E/G ratio of 235.94 and a beta of 0.93.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $74.60, for a total value of $373,000.00. Following the completion of the transaction, the chief executive officer directly owned 426,901 shares of the company’s stock, valued at approximately $31,846,814.60. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the transaction, the insider owned 227,038 shares in the company, valued at $17,039,201.90. The trade was a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,828 shares of company stock valued at $4,641,010 in the last quarter. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the company. Focus Partners Wealth purchased a new stake in Elastic in the 1st quarter valued at about $494,000. Asset Management One Co. Ltd. acquired a new stake in shares of Elastic during the second quarter valued at about $191,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Elastic by 115.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,030 shares of the company’s stock worth $424,000 after acquiring an additional 2,700 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Elastic by 1.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,215 shares of the company’s stock worth $2,717,000 after acquiring an additional 472 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Elastic by 11.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 20,178 shares of the company’s stock worth $1,702,000 after purchasing an additional 2,048 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company issued stronger-than-expected forward guidance for Q4 FY2026 and FY2026 (EPS and revenue guidance well above consensus), which is bullish for future profitability and cash flow. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Top-line strength: revenue of ~$450M (+18% YoY) and subscription revenue growth — management highlighted AI expansion and sales-led subscription gains, supporting the company’s growth story. Elastic NV (ESTC) Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Several analyst notes: Oppenheimer and Barclays trimmed price targets (Oppenheimer $100→$85; Barclays $78→$76) but retained Outperform/Overweight ratings—still implying meaningful upside from current levels, though less than before. Benzinga
• Neutral Sentiment: Earnings call/transcripts are available for detail on margin drivers, AI product momentum and guidance assumptions — useful for investors who want to dig into the drivers behind management’s upbeat outlook. Elastic Q3 2026 Earnings Call Transcript
• Negative Sentiment: Mixed/weak EPS metrics: some outlets reported an EPS miss or GAAP loss for the quarter despite revenue strength — this disconnect between revenue and per‑share earnings (and confusion around reported EPS) appears to have triggered selling pressure. Elastic earnings snapshot
• Negative Sentiment: Market reaction: several news outlets noted the stock tumbled after the print despite revenue beats — likely short‑term profit-taking, focus on EPS/GAAP metrics, and reduced near‑term analyst upside after PT cuts. Elastic shares tumble despite beating third quarter estimates

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.